Fred Alger Management LLC Purchases Shares of 4,459 Masimo Co. (NASDAQ:MASI)

Fred Alger Management LLC acquired a new position in shares of Masimo Co. (NASDAQ:MASI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,459 shares of the medical equipment provider’s stock, valued at approximately $595,000.

A number of other hedge funds have also modified their holdings of MASI. NBC Securities Inc. boosted its position in Masimo by 47.1% during the 3rd quarter. NBC Securities Inc. now owns 228 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. GAMMA Investing LLC grew its position in Masimo by 75.0% in the second quarter. GAMMA Investing LLC now owns 259 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 111 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Masimo by 133.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 350 shares of the medical equipment provider’s stock valued at $44,000 after buying an additional 200 shares during the last quarter. HHM Wealth Advisors LLC lifted its position in Masimo by 25.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 625 shares of the medical equipment provider’s stock worth $79,000 after buying an additional 125 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Masimo by 5,730.0% during the 1st quarter. Lazard Asset Management LLC now owns 583 shares of the medical equipment provider’s stock worth $85,000 after buying an additional 573 shares during the last quarter. 85.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus reiterated a “buy” rating and set a $190.00 target price (up previously from $170.00) on shares of Masimo in a report on Friday, November 22nd. Raymond James raised Masimo from a “market perform” rating to an “outperform” rating and set a $170.00 price objective for the company in a report on Wednesday, November 6th. Piper Sandler boosted their target price on shares of Masimo from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. BTIG Research lifted their price objective on shares of Masimo from $166.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Masimo from $160.00 to $171.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Masimo currently has an average rating of “Moderate Buy” and an average target price of $167.00.

Masimo Stock Up 1.0 %

Masimo stock opened at $172.54 on Monday. The company’s 50-day moving average price is $149.24 and its two-hundred day moving average price is $129.91. The company has a quick ratio of 1.11, a current ratio of 2.01 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.24 billion, a P/E ratio of 118.99 and a beta of 0.97. Masimo Co. has a twelve month low of $91.60 and a twelve month high of $178.27.

Masimo (NASDAQ:MASI) last released its quarterly earnings results on Tuesday, November 5th. The medical equipment provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.14. Masimo had a return on equity of 14.98% and a net margin of 3.85%. The business had revenue of $504.60 million during the quarter, compared to analysts’ expectations of $502.87 million. During the same period last year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, analysts expect that Masimo Co. will post 4.03 EPS for the current year.

About Masimo

Masimo Corporation develops, manufactures, and markets various patient monitoring technologies, and automation and connectivity solutions worldwide. The company offers masimo signal extraction technology (SET) pulse oximetry with measure-through motion and low perfusion pulse oximetry monitoring to address the primary limitations of conventional pulse oximetry; Masimo rainbow SET platform, including rainbow SET Pulse CO-Oximetry products that allows noninvasive monitoring of carboxyhemoglobin, methemoglobin, hemoglobin concentration, fractional arterial oxygen saturation, oxygen content, pleth variability index, rainbow pleth variability index, respiration rate from the pleth, and oxygen reserve index, as well as acoustic respiration monitoring, SedLine brain function monitoring, NomoLine capnography and gas monitoring, and regional oximetry.